Probing alleged irregularities in processing of e-visa applications for foreigners wishing to travel to India, the country’s Enforcement Directorate (ED) seized currency notes amounting to more than Rs3.50 crore (Dh1.7 million), while raiding tours and travel firms in the Indian capital city of Delhi and the National Capital Region (NCR). Twitter users are sharing the news reports and photos of the seized bundles of notes.
Reportedly, the central probe agency raided eight locations in Delhi and Ghaziabad, on July 9, under the Foreign Exchange Management Act (FEMA). According to Indian news reports, the department had received "specific inputs" that tours and travel entities were involved in unauthorised receipt of foreign remittances through payment gateways in the name of providing e-visa services to foreigners.
Following this, the raids were carried out at the residences and offices of directors of several tour and travel companies and their chartered accountants and the currency notes along with incriminating documents and digital records were seized, the agency said in a statement.
Tweep @RapperPandit posted: “Tour and travel companies are one of the biggest source of Hawala (an outlawed system which allows customers to transfer money via a network of brokers).”
The agency said the preliminary probe found "two such entities received foreign remittance of more than Rs200 crore (Dh97,692,015) for processing Indian e-visa applications of foreigners without any authorisation from the government".
"These entities were also involved in high value suspicious transactions," the agency added, according to a news report.
It was also found that "certain chartered accountants played a key role in managing the affairs of these entities, and were behind the suspicious transactions carried out by them".
Twitter user @abhishek_handle tweeted: “These CAs need to be suspended for lifetime. @theicai please seek information from ED and take appropriate action against these CAs who are maligning the name of our profound profession.”
"The seizure of unaccounted cash during the raids has raised further suspicion about the operations of such entities and blatant violation of statutory requirements," the ED has said.
Calling the case “the tip of iceberg”, tweep @NPathak1234 posted: “Every small town and city in this country has such [officials who have] stashed black money in crores. What is lacking is serious initiative
@dir_ed to unearth them & face the law. Nevertheless extend wishes @dir_ed for this job.”
Some tweeps asked for the companies to be named and shamed, csshe19 tweeted: “You must have to disclose the name of the companies who [were] involved [in] this corrupt fraudulent act, this is a serious offence, people should fight against it.”
A probe is underway and the directors and executives of these firms will be questioned, a senior agency official said.
